Markets started down on Monday but the losses narrowed on hopes the US and Russian leaders would hold talks on Ukraine.HONG KONG - Asian equities rallied following a strong bounce on Wall Street and a breathtaking surge in Europe sparked by a plunge in oil prices and bargain-buying following a Ukraine-fuelled rout.
But for now, investors are enjoying a rare moment of calm, lapping up cheaper equities after a blockbuster day for their US and European colleagues. But a key driver of the advance was a massive drop in oil prices, which provided some relief to traders worried about already high inflation being sent even higher.
At the same time Iraq has said it could lift output and nuclear talks with Iran were also showing signs of bearing fruit. "Surely, we are ready for a diplomatic solution," deputy chief of staff Ihor Zhovkva told Bloomberg Television. Investors will be keeping a close eye on a meeting between the countries' foreign ministers in Turkey on Thursday, marking the first high-level contact between Kyiv and Moscow since the invasion.
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